-
CAT filing deadline reminder, exemption doubles
This message is a friendly reminder to all commercial activity tax (CAT) practitioners and taxpayers that the fourth quarter 2024 CAT return is due February 10, 2025.Full story -
Joint property tax study committee issues 21 recommendations in final report
The Joint Committee on Property Tax Review and Reform on Jan. 2 released its final report after spending the past year studying Ohio’s property tax system over eight hearings and receiving testimony from 60 witnesses, issuing 21 recommendations while acknowledging some proposals may contradict others.Full story -
Sales tax holiday transfer skews December revenues
December tax collections either lagged or exceeded targets by big margins, depending on whether a transfer related to last year’s expanded sales tax holiday is factored into the totals, but normal revenue streams were generally on target.Full story -
Treasury and IRS propose regulations to update rules for tax professionals who can practice before the IRS
The Department of the Treasury and the IRS have issued proposed regulations to update the rules for certain tax professionals who can practice before the IRS. These rules are contained in Treasury Department Circular 230.Full story -
Tax and financial planning news from around the web: January 6 – 10, 2025
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.Full story -
A note from OSCPA President & CEO Scott Wiley
As I write my last CEO letter as President and CEO of The Ohio Society of CPAs, I am filled with a deep sense of gratitude and pride. It has been an incredible journey, and I am honored to have had the opportunity to lead such a dedicated and talented group of professionals.Full story -
Upcoming changes to the Commercial Activity Tax
Effective Jan. 1, 2025, the annual exclusion amount for business increases from $3 million to $6 million. If your taxable gross receipts are $6 million or less, you will not have to pay the tax.Full story -
Ohio Sales / Use Tax: Financial authorization services found to be nontaxable, although appeal remanded for further consideration of related bundled services
The Ohio Board of Tax Appeals held that certain financial authorization services are not taxable automatic data processing (ADP) or electronic information services (EIS).Full story -
Tax and financial planning news from around the web: December 16 – 20, 2024
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.Full story -
IRS sets $2,500 threshold for Form 1099-K in 2025
The IRS has issued new guidance formalizing the $5,000 threshold for reporting 2024 payments made through third-party payment networks on Form 1099-K and has set a new $2,500 threshold for payments made in 2025.Full story -
Tax and financial planning news from around the web: December 9 – 13, 2024
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.Full story -
OH | Tax eServices launching Dec. 9
The second phase of OH | Tax eServices will allow taxpayers to file more types of returns, including sales/use, public utility and personal property among others.Full story -
What to expect from the tax landscape in 2025
The former Ohio Tax Commissioner offered this advice to CPAs on tax developments in the new year: be prepared for anything.Full story -
IRS extends R&D tax credit transition period
The IRS is extending the transition period for revising claims for the research and development tax credit, which gives taxpayers 45 days to "perfect" a research credit claim for refund prior to the IRS's final determination on the claim.Full story -
Tax and financial planning news from around the web: December 2 – 6, 2024
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.Full story -
IRS hopes to prevent refund delays by accepting duplicate dependent returns with an IP PIN for 2025 filing season
The IRS is making it easier for taxpayers to protect their information and avoid refund delays by accepting certain e-filed tax returns that claim dependents who have already been claimed on another taxpayer’s return. This change will benefit filers claiming important tax credits like the Earned Income Tax Credit and Child Tax Credit.Full story -
Tax and financial planning news from around the web: November 25 - 29, 2024
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.Full story -
Final reminder: Ohio Business Gateway deadline is Dec. 2
Ohio Business Gateway users only have one more week to act before Dec. 2 – that’s when multi-factor authentication becomes an OH/ID login requirement for the OBG.Full story -
Sales and Use Tax filing deadline reminder
The Ohio Department of Taxation is reminding all sales and use tax practitioners and taxpayers that the October 2024 monthly sales and use tax returns are due Nov. 25, 2024. Returns must be filed for each period the account is active.Full story -
Tax and financial planning news from around the web: November 18 – 22, 2024
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.Full story